One of the worst things to experience during a financial pinch is car trouble; you still need to get to work, and a poorly performing vehicle that might require thousands of dollars in repairs isn’t helping you pay down debt or save money for the future. If you’re struggling with debt and credit, you can still afford a reliable car with help from bad credit auto financing. Sometimes, financing in such situations requires a small down payment. Here are four ways to find funds before hitting used car sales lots.
1. Complete crowdsourcing work online
Online work doesn’t always pay a lot, but it can pay quickly. Apply with companies such as OneSpace or Amazon’s mTurk and you can complete short, easy tasks while you watch television or hang out with your kids in the backyard. All that’s required is a computer and a decent Internet connection. Tasks usually involve doing basic research, data entry or completing surveys, although qualified individuals can make even more via writing and editing tasks. Some crowdsourcing companies pay out immediately upon approval of tasks, which means you could receive funds within the week.
2. Cut this week’s grocery bill
Cut your grocery budget for the week and apply the money you save to a car down payment. Start culling your grocery expenses by collecting as many coupons as you can. Coupons are like money if you have to buy the food anyway, and you can save on basics such as milk, sandwich fixings and beverages with coupons. Cut your food bill even more by prioritizing the list and buying only what is necessary. Dig deep into your pantry and eat what you have before buying anything else. Avoid buying food or beverages at restaurants for the week – when you add up the savings, you might find you have an extra $50 to $100.
3. Hit up craigslist
Liquidate something of value on Craigslist or eBay for a fast cash out. Popular items include electronics and televisions, small kitchen appliances, furniture and collectibles. You could fund your entire down payment by clearing items out of storage!
4. Convert closet extras to cash
If you can’t part with your valued appliances or collectibles, try liquidating the extra items in your closet. Some consignment-style clothing stores pay upfront for gently used items that are still in style. Chains that offer cash payment include Plato’s Closet and Once Upon a Child; for more adult options, check out local consignment stores in your area.
Even if you don’t need a down payment when buying a used car, it doesn’t hurt to gather some funds before you buy. You can use the extra money to handle any needed maintenance or to add a few personal accessories to make the car feel like home.